Government reopens application window for AC and LED lights

The government said on Monday it had reopened the application window for its Rs 6,238 crore Production Linked Incentive (PLI) scheme for air conditioners (AC) and LED lights in a bid to accommodate more stakeholders, as several companies have expressed interest in the initiative.

Already 42 companies including Daikin, Panasonic, Syska and Havells with a committed investment of Rs 4,614 crore have been provisionally selected as beneficiaries under the PLI scheme for the white goods sector (AC and LED lighting). The Department of Trade and Industry, in a statement, said the application window for the program will open again from March 10 to April 25 this year. No applications will be accepted after this window has closed.

“Additional applications are invited under…the Scheme Guidelines for investments under the Scheme on the same terms as stipulated in the Scheme Guidelines…The Incentive will only be available for the remaining term of the Scheme. diet,” he said.

The Council of Ministers had, on April 7, 2021, given its approval to the PLI scheme for white goods for the manufacture of components and sub-assemblies of air conditioners and LED lights. The program is to be implemented over a seven-year period, from 2021-22 to 2028-29. The Department of Promotion of Industry and Internal Trade (DPIIT) Additional Secretary Anil Agarwal said that more companies have shown keen interest in participating in the scheme and that is the reason why the window of application has been reopened.

The total expenditure is Rs 6,238 crore and 42 candidates have committed investments of Rs 4,614 crore, so more than Rs 1,600 crore remains in reserves.

“We still have reservations. Other applicants will come. We are looking for multinational companies and they would come. There is huge interest in the AC industry as India has signed a Comprehensive Economic Partnership Agreement with the Emirates United Arab Emirates and other similar pacts are being negotiated,” Agarwal told PTI.

First post: STI


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